Real Estate Laws in Montana.

Governs deeds of trust on residential real property of up to 40 acres. Permits nonjudicial foreclosure with notice by posting, publication (3 weeks), and recording. Sale is by trustee at the courthouse.

Following a trustee's sale under the Small Tract Financing Act, the borrower has no statutory right of redemption. (Judicial foreclosure of a mortgage provides a 1-year redemption.)

Montana does not require a specific statutory disclosure form, but agents and sellers must disclose known material defects. The Montana Association of Realtors Seller's Property Disclosure Statement is the industry standard.

Montana is a race-notice state: a subsequent bona fide purchaser for value without notice who records first prevails over an earlier unrecorded conveyance.

Montana taxes real property based on "taxable value" (percentage of market value varies by property class). Residential Class 4 property is taxed at approximately 1.35% of market value (2024). Reappraisal every 2 years.

Homestead protects up to $425,828 of equity (2026, adjusted 4% annually) against most creditors. Homestead declaration must be recorded with the county clerk.